GE and UK Export Finance (UKEF), UK’s export credit agency, have reached an agreement to finance Kalyon Enerji’s 1.35 GW Karapinar solar project in Turkey.
Located in the Konya Karapinar province, the solar power plant is Turkey’s largest solar facility. It is approximately 11 km long and 3 km wide, equivalent to over 4,600 football pitches.
GE Energy Financial Services worked with UKEF, who are set to guarantee a US$291 million Buyer Credit Facility, subject to financial close. This will enable GE to deploy its first FLEXINVERTER solar technology outside the USA. Financing for the project will be structured on a project finance basis and raised through J.P. Morgan as acting lead arranger and lender supported by the UKEF guarantee.
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